Fuel Management System
Market Share
Market
Research Future (MRFR)’s latest study projects that the global fuel management
system market is set to expand at 4% CAGR over the forecast period. The report
highlights that the market is anticipated to reach a decent valuation over the
next couple of years. These systems are in excessive demand from the industries
such as transportation and construction for maintaining, tracking, and managing
fuel consumption and storage. These are also
used in the management of fleets of railways, aircraft, and vehicles. The growth of the transportation and
automotive industries are projected to revolutionize the growth pattern of the
market in the forthcoming years.
The
fuel management system market is at its nascent stage currently and is expected
to gain quick mileage in the foreseeable future owing to increasing fuel prices,
depleting resources, increasing fuel stations, etc. Furthermore, the inclination towards minimum fuel wastage is likely
to influence the expansion of the market
positively in the years to come.
Industry
leaders are focusing on technological advancements for capitalizing on developmental opportunities. For instance, the
advent of real-time tracking fuel management
systems has gained much popularity in recent times. The market has
witnessed the evolution of these systems
and is prognosticated to exhibit innovations and upgradations to harness growth
opportunities. On the flip side, the additional
cost incurred for installation is expected to restrict the proliferation of the
fuel management system market over the next couple of years.
Market Segmentation:
By
type, the Fuel
Management System Market Share has been
segmented into card-based, on-site and total fuel management.
By
application, the fuel management system market has been segmented into mobile fueling systems, transport fleet, and others.
Regional Analysis:
By
region, the global fuel management system market has been segmented into North America, Europe,
Asia Pacific, and the Rest of the World (RoW). North America is expected
to hold the leading position in the global marketplace and retain its
prominence across the forecast period. The
growth-inducing factors of the regional fuel management system market
include increasing fleet management services, growth
of the transportation sector, etc. The U.S. and Canada are poised to drive the
expansion of the market in the region.
Europe
is anticipated to trail the North America
market in terms of market size and revenue generation. The boom witnessed in the automotive sector of the region has been
forecasted to expedite the proliferation of the fuel management system market
over the assessment period. Furthermore, the need for curbing inflation of fuel
prices is also likely to favor the expansion of
the market in the years to come.
Competitive Dashboard:
Some
of the major players of the fuel management system market profiled in this MRFR
report The Triscan Group (U.K), Piusi
S.p.a. (Italy), are OPW Fuel Management Systems (U.S), Franklin Fueling Systems
(U.S), Guduza System Technologies (South Africa), Timeplan Fuel Solutions
(U.K), Banlaw (Australia), Sokolis Group (U.S), Wayne Fueling Systems LLC
(U.S), and Orpak Systems Ltd. (Israel).
Related
Reports:
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